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PROPOSED AGREEMENT
Vendor: Billy Casper Golf, Reston, Virginia
Request: Requesting authorization for the Forest Preserves of Cook County (the "Forest Preserves") to enter into an agreement
Reason: Billy Casper Golf, Inc. ("Operator") manages the Forest Preserves' ten (10) golf courses and one (1) stand-alone driving range through a Golf Course Facilities Management Agreement (the "Golf Agreement") which expires on December 31, 2022. As part of the Golf Agreement, the Operator is required to provide a fleet of motorized golf carts ("Golf Carts") for rental and use by consumers. The Operator leases these Golf Carts pursuant to lease agreements, all of which will expire in 2020 (the "Existing Leases"). Due to current regulations issued by the State of Illinois in response to the COVID-19 pandemic, multiple person use of golf carts is limited. As a result, the Operator seeks to lease seventy-four (74) additional electric golf carts to supplement its existing fleet and provide more capacity. The optimal operating lease term from a reputable, national manufacturer is five (5) years; however, this term extends beyond the expiration of the Golf Agreement. The current Golf Agreement provides an option for the Forest Preserves to assume any lease or financing held by the Operator for equipment at the end of the contract term.
The proposed agreement authorizes the Operator to lease seventy-four (74) Lithium Ion electric golf cars for five (5) years from a reputable, national manufacturer. Operator will leverage current pricing advantages and deliver a quote to the Forest Preserves which represent the best pricing and financing terms available to the Operator. Upon review and approval of the quote by the Forest Preserves, the Forest Preserves and Operator will jointly enter into and execute the five (5) year operating lease. The Forest Preserves would sign the lease as a co-lessee, with the understanding that the responsibility for such lease would be transferre...
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